Industry News by Nemesis

Rio Tinto Steps Up Focus on Diamond Origin

Rio Tinto said it plans to put transparency of a diamond’s origin at the heart of its sales and marketing strategy, as the provenance of gems comes under sharper focus among the trade and consumers.

The miner aims to tap into the issue that has garnered much interest in the industry as questions are being asked about the ethics of sourcing.

“Increasingly the value of a diamond is tied to where and how the diamond was mined, how it was cut and polished and the process of bringing it to sale,” said Simon Trott, managing director of Rio Tinto Diamonds (pictured). “This is a very reasonable expectation that is steadily reshaping the diamond industry for the better.”

Provenance has come under intense focus in recent months. It has been a central theme at the JCK Las Vegas show, which kicked off last week, and was one of the main topics at the World Diamond Congress in Dubai last month. Rio Tinto’s move follows Signet Jewelers’ launch of the Responsible Sourcing Protocol for Diamonds (D-SRSP) earlier this year.

“We see a unique business opportunity for the industry to tap into the changing expectations of a new generation of consumers who want to know where their diamonds come from,” said Bruno Sané, general manager of marketing for Rio Tinto Diamonds.